Leave encashment refers to a provision in employment policies or contracts that allows employees to convert their unused or accrued leave into monetary compensation.
To change the number of leave that can be encashed by an employee, the admin must perform the following actions:
- From the greytHR Admin portal, navigate to Leave > Admin > Year End Process. The Year End Process page opens.
- Under the Year End Policy tab, left-click the policy under which you want to edit the number of encashable leaves.
- Click the Edit icon next to the required leave policy. The selected leave policy form opens.
- In the Maximum limit of leave(s) that can be encashed: text box, enter the required number of leaves that can be encashed.
- Click Save to modify the number of leaves that can be encashed for the leave year.
Note: Update the policy before the processing of leave year end so that the changes are effective for the current leave year.
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Related Links:
FAQs - To read more about Leave year end, click here.
Video:
- To watch the automatic Leave year end process, click here.
- To watch the manual Leave year end process, click here.
Documentation:
- To read more about automatic Leave year end, click here.
- To read more about manual Leave year end, click here.
Product Update - To read our product update, click here.
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